The following accounts and balances are taken from Moore Company's adjusted trial balance: Accounts Payable...

50.1K

Verified Solution

Question

Accounting

The following accounts and balances are taken from Moore Company's adjusted trial balance: Accounts Payable $ 11,000 Accounts Receivable 3,200 Accumulated Depreciation 1,600 Depreciation Expense 1,700 Dividends 2,100 Insurance Expense 2,200 Interest Revenue 1,440 Prepaid Insurance 2,220 Retained Earnings 10,400 Salary Expense 23,100 Service Revenue 35,800 What is the ending balance in Retained Earnings after the closing entries are completed?

A. $18,540

B.$8,140

C.$10,240

D.$ 37,240

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students